Japanese aluminium import premium for Q1 2026 surges over 126% – 20 January 2026
The first-quarter premium for imported primary aluminium into Japan rose 126.74% quarter-on-quarter to USD 195/mt CIF main Japanese ports, based on trades for loading January-March 2026, reflecting global tightness and higher pricing conditions.
👉 Source: S&P Global / Platts report — https://www.spglobal.com/energy/en/news-research/latest-news/energy-transition/011926-japanese-q1-2026-aluminum-premium-rises-126-qoq-to-195mt-cif-japan?utm_source=chatgpt.com
Summary :
The Q1 MJP premium assessment was based on 10 trades reported until Jan. 16. All deals were concluded at $195/mt with a total minimum volume of 14,000 mt/month, plus LME cash CIF Japan, for seaborne P1020/P1020A ingot for loading over January to March.
Offers heard during the negotiations were in the range of $190-$225/mt CIF Japan, 120%-162% higher than the settled Q4 MJP level. The lowest offer reported for Q1 was at the beginning of negotiations at $190/mt CIF Japan on Dec. 3, after which offers began to rise amid tight supply.
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